Business

Business Air India sale bid draws a blank as no suitors emerge
Author: 0 Air India sale bid draws a blank as no suitors emerge

Choubey said on Wednesday the government had no plans to extend the May 31 deadline. IndiGo's former president Aditya Ghosh, in a statement , earlier said, "From day one, IndiGo has expressed its interest primarily in the acquisition of Air India's global operations and Air India Express".

Business B.C. minimum wage increases on June 1
Author: 0 B.C. minimum wage increases on June 1

President Justice Iain Ross said compared to this time previous year, economic indicators now point more "unequivocally to a healthy national economy and labour market". "Such adverse effects will impact on those groups who are already marginalised in the labour market and on households vulnerable to poverty due to loss of employment or hours", Justice Ross said.

Business Freaky hotel parking accident leaves Porsche crushed under vehicle
Author: 0 Freaky hotel parking accident leaves Porsche crushed under vehicle

A valet had to be cut out of the Porsche, but was not injured in the crash. A third auto was also damaged after it was pushed into some nearby bollards. "I saw the valet hit the vehicle in front from a parked position", said Jonathan Bouzaid , who watched events unfold and posted photos to Instagram .

Business United States oil rig count little changed amid drawdown of inventories, record production
Author: 0 United States oil rig count little changed amid drawdown of inventories, record production

Oil prices eased slightly on Thursday following a rally in the previous session, as investors eyed a surprise increase in USA crude oil inventories and looked to a possible rise in output when OPEC and other producers meet in June. Global petroleum inventories fell through 2017 and 2018's first quarter, marking the end of a period of oversupply in global petroleum markets that began before OPEC's November 2016 deal to cut production , the Energy Information Administration reported ...

Business Overdraft and credit users could save millions as reforms proposed
Author: 0 Overdraft and credit users could save millions as reforms proposed

Other ideas include banning extended warranties, which could save the estimated 400,000 rent-to-own customers up to £7.7 million per year. BANKS and consumer credit providers may have to set up mobile alerts to warn customers of impending overdraft charges as part of a clampdown on high-cost finance.

Business Chrysler Brand Survives But Focus Elsewhere In Five-Year Plan
Author: 0 Chrysler Brand Survives But Focus Elsewhere In Five-Year Plan

Fiat Chrysler Automobiles delivered a lot of news at its investor presentation detailing its latest five-year plan on Friday, and the plans include a new 500e electric vehicle and a 500 wagon variant. The 65-year-old, who hands over the wheel in early 2019, said the carmaker will phase out diesel engines in European passenger cars by 2021 as FCA (FCAU.N) introduce hybrids and electric cars across all regions to be fully compliant with emissions regulations.

Business Sears To Close Additional Stores As Sales Continue To Drop
Author: 0 Sears To Close Additional Stores As Sales Continue To Drop

Also on the chopping block are stores at Genesee Crossing mall in Flint and Cherryland Center shopping complex in Traverse City. The Sears in Music City Mall- Lewisville, which will soon close its doors. "Liquidation sales will begin as early as June 14 at these closing stores". The results from the year-ago quarter included a $492 million benefit related to the sale of Craftsman .

Business Fiat Chrysler, Waymo expand partnership with 65K vehicles
Author: 0 Fiat Chrysler, Waymo expand partnership with 65K vehicles

Now the company is looking to buy a few more minivans - 62,000, to be exact. The Waymo driverless fleet will be growing, it was announced Thursday, with an agreement to add as many as 62,000 Chrysler Pacifica Hybrid minivans before the end of the year.

Business Trump isn’t special, US presidents always start trade wars with Europe
Author: 0 Trump isn’t special, US presidents always start trade wars with Europe

Despite slapping tariffs on Canada and Mexico , the United States remains engaged in trade negotiations - specifically with the North American Free Trade Association between the U.S., Canada and Mexico. "They have the world's largest economic engine and if we think we're going to swat them around, it's not going to happen", says Zekelman. Trump's remarks follow a refusal by Trudeau to accept terms laid out by the USA administration.

Author: 0 Google won't renew contract for Project Maven, controversial Pentagon drone program

Through Project Maven , Google provides artificial intelligence technology to the Pentagon to help humans detect and identify targets captured by drone images. At least a dozen staff resigned over the issue. If tech workers, especially in the competitive AI arena, continue to agitate for their employers to avoid ties with the military, that could mean changes for an industry that's long enjoyed a healthy relationship with the Pentagon.

Business What is China's A-share MSCI inclusion on June 1?
Author: 0 What is China's A-share MSCI inclusion on June 1?

While fund manager strategies are hard to predict, many analysts have forecast inflows of $10 billion around June 1. Shenzhen, China-based ZTE was one of five companies removed because their shares are suspended from trading, MSCI said in a statement on Wednesday evening.

Business Spain Parliament Expels Prime Minister Mariano Rajoy Over corruption Scandal
Author: 0 Spain Parliament Expels Prime Minister Mariano Rajoy Over corruption Scandal

But PP lawmaker Rafael Hernando told him he would be entering the prime minister's office "through the back door" after failing to win the vote in 2015 and 2016. The motion was successful after 180 deputies voted to unseat Rajoy. However, his position had become increasingly untenable, undermined by scandals encircling his party as well as a divisive independence drive in the wealthy region of Catalonia, which led Madrid to impose direct rule on the region last autumn.

Business Vermont will pay up to $10,000 to new residents who work remotely
Author: 0 Vermont will pay up to $10,000 to new residents who work remotely

Phil Scott signed the bill into law on Wednesday. People who choose to relocate and take part in the program are required to be full-time employees of companies that are based outside of Vermont . Last year saw the state's first increase in population in four years, and it was by a mere.05 percent, according to the bureau. To be eligible, you not only have to become a full-time resident only after the start date, but also must be employed full-time by an out-of-state employer.

Author: 0 Increase public investment to spur economic growth, OECD tells Belgium

Global economy is at the phase of strong growth driven by a rebound in trade, higher investment and buoyant job creation. The prospect of a trade war is threatening the global growth outlook, which otherwise is on course for a 40-year low in unemployment, the OECD said on Wednesday.

Business Warren Buffett confirms talks with Uber: 'I'm a great admirer of Dara'
Author: 0 Warren Buffett confirms talks with Uber: 'I'm a great admirer of Dara'

He confirmed that Uber remains on course to IPO in 2019 . Uber seemed open to taking both Buffett's investment and the loan, which it closed in March, the people familiar with the matter said. In the oast decade, Mr Buffett has invested billions of Berkshire dollars to support companies seeking a pick-me-up, including investments in Goldman Sachs Group, General Electric and Bank of America during or in the aftermath of the global financial crisis.

Business Italy swears in anti-establishment government
Author: 0 Italy swears in anti-establishment government

The turning point occurred on May 27 when the president rejected Paolo Savona , whom the coalition chose as economy minister, because of its anti-euro stance and for fear of negative reactions from the European Union and stock exchanges.

Business Trump floats replacing NAFTA with bilateral agreements with Canada, Mexico
Author: 0 Trump floats replacing NAFTA with bilateral agreements with Canada, Mexico

Trudeau had bitten his tongue through skirmishes over airplanes, lumber and North American Free Trade Agreement talks. "Those days are over", Trump said late Thursday . None of it mattered. Trudeau yesterday said that talks with the US collapsed after a call with Pence in which the VP drew a red line under a five-year sunset for whatever deal is negotiated.

Author: 0 Deutsche Bank gets ECB, key investor support as S&P questions strategy

The rating, which was reported by the Wall Street Journal , judges a bank's capital adequacy, asset quality, management, earnings, liquidity, and sensitivity to market risk, and they receive a score of one to five, five being the worst. Although Deutsche Bank's senior debt has held up well, its junior and hybrid debt instruments that would be vulnerable if the bank got into serious financial trouble have underperformed.

Business Stocks Plummet Amid Fears About Italy's Political Crisis
Author: 0 Stocks Plummet Amid Fears About Italy's Political Crisis

The day-off extended to markets in Singapore, Malaysia, Indonesia and Thailand. The government's borrowing rate for two-year money more than doubled, by over 1.5 percentage points to 2.4 percent, indicating a surge in investor concern. Germany's DAX 30 fell 1.2% and France's CAC 40 traded 1.1% lower. The US currency was 0.25 per cent lower at 109.155 yen after rising briefly to 109.830 on Monday.

Business Wales Shortlisted for New National C4 Headquarters
Author: 0 Wales Shortlisted for New National C4 Headquarters

However, the pair are in the running to host one of the broadcaster's creative hubs. These were reviewed and assessed by Channel 4 and a shortlist for the National HQ and Creative Hubs was agreed by chief executive Alex Mahon, chief commercial officer Jonathan Allan and the executive team.

Business Step aside Trudeau, Spain’s new prime minister is nicknamed
Author: 0 Step aside Trudeau, Spain’s new prime minister is nicknamed "Mr. Handsome"

The Madrid stock exchange was up 1.8 per cent after Sanchez won the vote and earned a standing ovation from his party's lawmakers. The former economics professor regained the Socialists' leadership a year ago. The motion paves the way for a takeover by opposition socialist PSOE party leader Pedro Sanchez, his archrival. The vote of no-confidence came after 29 former members of his conservative Popular Party were convicted of corruption last week.

Business Wall Street falls on Italy worries; bank shares drop
Author: 0 Wall Street falls on Italy worries; bank shares drop

DJI rose 306.33 points, or 1.26 percent, to 24,667.78, the S&P 500 . SPX gained 34.15 points, or 1.27 percent, to 2,724.01, and the Nasdaq Composite . ENERGY: Benchmark U.S. crude fell 57 cents to $67.31 per barrel in electronic trading on the New York Mercantile Exchange while Brent crude, used to price worldwide oils, added 78 cents to $76.08 per barrel in London.

Business Forget China: US jumps headlong into trade war with allies
Author: 0 Forget China: US jumps headlong into trade war with allies

All three affected parties had already said they would respond in kind, and Canada was the first to announce a slew of countermeasures. That's because steel manufacturers in the United States employ far fewer people than industries that make things out of imported steel, like automakers.

Business Starbucks customers skeptical racial bias training will result in real change
Author: 0 Starbucks customers skeptical racial bias training will result in real change

The training followed an incident at a Starbucks store in Philadelphia in April in which a manager called police on two African-American men who were quietly waiting for a friend. Beginning at 11:30 a.m. ET, more than 8,000 company-owned stores across the nation will begin to close for the four hours of training. And while a majority of the stores were closed for training, 7,000 licensed stores found in schools, hotels, airports, grocery stores and more still found that they had an ...

Business GDPR hits data processing companies hard
Author: 0 GDPR hits data processing companies hard

Max Schrems , an Austrian lawyer who runs a privacy advocacy NGO called None of Your Business, has filed lawsuits against Facebook , WhatsApp , Instagram and Google , accusing them of failing to comply with the GDPR . Action: Introduce a single cloud-based HR and People system to help control the data more effectively and give you greater confidence that your data/information is accurate.

Business Italy's next prime minister announces cabinet as populists agree new deal
Author: 0 Italy's next prime minister announces cabinet as populists agree new deal

Carlo Cottarelli addresses a press conference at the Qurinale presidential palace on May 28, 2018 in Rome after Italian President gave him mandate to form a government. Cottarelli returned for informal discussions Wednesday with Mattarella after asking for more time to come up with a list of cabinet ministers. A government led by Cottarelli "is born dead", said 5-Star proponent Manlio Di Stefano.

Business Trump tariffs on US allies draw retaliation threats
Author: 0 Trump tariffs on US allies draw retaliation threats

U.S. leaves us no choice but to proceed with a WTO dispute settlement case and the imposition of additional duties on a number of USA imports. The EU said on Thursday it will impose retaliatory duties, a measure the bloc earlier indicated would target $3.3 billion in American products from Harley-Davidson Inc.

Business USA stocks tumble as Trump starts trade brawl against the world
Author: 0 USA stocks tumble as Trump starts trade brawl against the world

The three allies were previously given temporary exemptions from the duties - 25 percent on steel imports and 10 percent on aluminum. But EU Trade Commissioner Cecilia Malmstrom has repeatedly refused to "negotiate under threat" and reiterated the position today, saying: "That is not the way we do business".

Business Trump Administration Announces Steel and Aluminum Tariffs on EU, Canada and Mexico
Author: 0 Trump Administration Announces Steel and Aluminum Tariffs on EU, Canada and Mexico

Last year, almost 50 percent of U.S steel and aluminum imports in 2017 came from the EU Canada and Mexico. U.S. President Donald Trump's administration is planning to impose tariffs on European steel and aluminum imports after failing to win concessions from the European Union, a move that could provoke retaliatory tariffs and inflame trans-Atlantic trade tensions.

Business Singapore Airlines announces world's longest flight route
Author: 0 Singapore Airlines announces world's longest flight route

Flights will cover a distance of approximately 16,700km and travel time is expected to be about 18 hours and 45 minutes. The Airbus will have a two-class layout, with 67 Business Class seats and 94 Premium Economy Class seats. The airline hasn't yet announced what fares for the new route will cost. SIA now has 21 A350-900s in its fleet, with 46 more on order including seven of the ULR variant.

Business Amazon blocks Australia from its USA site due to new GST rules
Author: 0 Amazon blocks Australia from its USA site due to new GST rules

In an email to customers today, the company said from 1 July it would redirect Australian shoppers from its worldwide sites to amazon .com.au where products sold by Amazon US will be available on the new global store. National Retail Association CEO Dominique Lamb said Amazon's move was a surprise. Australian Amazon customers will soon no longer be able to buy from Amazon US.

Business Yahoo hacker sentenced to 5 years in prison
Author: 0 Yahoo hacker sentenced to 5 years in prison

US law enforcement officials have called Baratov, a "hacker-for-hire" who was paid by members of the Russian Federal Security Service, or FSB, to access accounts. Baratov used spear-phishing techniques, posing as various service providers, to trick users into handing over passwords and gaining access to victims' accounts.

Author: 0 Singapore Airlines has new longest flight in the world to New York

Those Airbus A340s were configured to make the New York-to-Singapore flights possible and relatively cost-effective, but that meant it was not economical to use them on any other routes. Tickets will be made available for sale progressively across the various booking channels, starting Thursday. SIA, which is the launch customer for the A350-900ULR, has seven of the planes on order.

Business De Beers to sell lab grown diamonds
Author: 0 De Beers to sell lab grown diamonds

Man-made diamonds are different from imitation gems like cubic zirconia because they have the same physical characteristics and chemical makeup of mined diamonds. De Beers, which created the famous "a diamond is forever" slogan and once had a near-monopoly on global diamond production, said it was launching the new range of synthetic diamonds to meet demand for "affordable fashion jewellery that may not be forever but is ideal for right now".

Business Tough Government Rules Keep Tesla Away From Indian Roads, Says Elon Musk
Author: 0 Tough Government Rules Keep Tesla Away From Indian Roads, Says Elon Musk

Influential U.S. magazine Consumer Reports said on Wednesday it was recommending Tesla Inc's Model 3 sedan after its latest tests showed that a firmware update improved the car's braking distance by almost 20 feet. "UI improvements coming via remote software update later this month", Tesla Chief Executive Officer Elon Musk said in a tweet here in response to the report.

Business U.S. Levies Tariff on $50 Billion in Chinese Tech Goods
Author: 0 U.S. Levies Tariff on $50 Billion in Chinese Tech Goods

The list of targeted goods will be announced by June 15 and imposed shortly after, the White House said. Meanwhile, China has warned of equal retaliation, including duties on some of its most significant US imports, like aircraft, soybeans and vehicles.

Business Alberta premier cheers pipeline purchase; opponents express concern, caution
Author: 0 Alberta premier cheers pipeline purchase; opponents express concern, caution

The proposal called for twinning an existing pipeline that runs from Edmonton, Alta.to Burnaby, B.C. and would almost triple its output from 300,000 barrels a day to almost 900,000 barrels a day. They vowed to keep protesting the $4.5-billion Trans Mountain pipeline that carries crude and refined oil from Alberta to the west coast of British Columbia, Canada.

Business Cyber crooks claim to hit two big Canadian banks
Author: 0 Cyber crooks claim to hit two big Canadian banks

Some fraud suspects may have electronically accessed certain personal and account information for 40,000 clients. BMO also sent a warning about fraudsters on Monday morning. "We are working with the relevant authorities", he said. In both cases, the attackers have threatened to publish the customer data. The Office of the Privacy Commissioner said Monday that both financial institutions have notified it about the issue.

Business Oil hits multi-week lows on fears of growing supplies
Author: 0 Oil hits multi-week lows on fears of growing supplies

With the Organisation of Petroleum Exporting Countries and its partners said to have cleared a market surplus despite record American production, traders now are weighing whether Saudi Arabia and Russian Federation will implement their plan without finding a compromise with allies.

Business Petrol price cut by 60 paise per litre, diesel by 56 paise
Author: 0 Petrol price cut by 60 paise per litre, diesel by 56 paise

The price of petrol in the capital is now ₹ 78.42 a litre, while diesel is at ₹ 69.30 a litre. State-owned oil companies in June 2017, dumped the 15-year old practice of revising rates on 1st and 16th of every month and instead adopted a dynamic daily price revision to instantly reflect changes in cost.

Business Tesla in Autopilot mode hits parked police SUV
Author: 0 Tesla in Autopilot mode hits parked police SUV

The police SUV ended up with its two passenger-side wheels on a pavement. Tesla has said that while its autopilot system is supposed to help detect nearby vehicles and avoid collisions, it shouldn't be used in areas with intersections, stop signs, red lights or suddenly changing traffic patterns.

Business Pret A Manger gobbled up by German billionaires for £1.5 billion
Author: 0 Pret A Manger gobbled up by German billionaires for £1.5 billion

The restaurant chain Pret A Manger is being acquired by the European investment firm that bought Panera Bread past year. The two firms did not say how much JAB was paying, although one report put the value of the deal at £1.5bn. The Financial Times earlier reported that the price paid by JAB was £1.5 billion, including debt. Pret - which opened its first outlet in London in 1986 - has 530 stores worldwide and is rapidly expanding globally in countries such as the US, China and France.

Business Starbucks Closing Tuesday in US: What You Need to Know
Author: 0 Starbucks Closing Tuesday in US: What You Need to Know

Starbuck ( SBUX )announced the training soon after two black men were arrested at a Philadelphia Starbucks in April. This first training will focus on understanding racial bias and the history of public accommodations in the United States, with future training addressing all aspects of bias and experiences.

Business Italy heading for fresh elections as chaos continues
Author: 0 Italy heading for fresh elections as chaos continues

In a televised address, Mattarella said he had rejected the candidate, 81-year-old eurosceptic economist Paolo Savona , because he had threatened to pull Italy from the single currency. He later added on Twitter: " Italy is not a colony, we are neither German nor French slaves". Italian President Sergio Mattarella speaks to media after a meeting with Italy's Prime Minister-designate Giuseppe Conte at the Quirinal Palace in Rome, Italy, May 27, 2018.

Business Cheap petrol: Not a chance! Supermarkets raise fuel prices every day
Author: 0 Cheap petrol: Not a chance! Supermarkets raise fuel prices every day

We are making a long-term plan in this regard", he said. If this was the case, diesel prices could further reduce by Rs 3.75 a litre and petrol prices by Rs 5.75 per litre, it said. Amid the rise in fuel prices, crude oil futures fell 2.73 per cent to Rs 4,485 per barrel on Monday, in line with the weak trend overseas as the market eyed an increase in output from top crude producers - Russia, the USA, and Saudi Arabia.